Eric Trump, the son of former U.S. President Donald Trump, denied reports that he would be involved in blockchain network Tron’s plans for a public listing in the U.S., although he expressed positive remarks about the project's founder, Justin Sun.
“I am the biggest fan of Tron,” Eric stated on social media, adding that he greatly admires Justin Sun, considering him a “great friend and idol in the crypto space.”
However, he refuted an earlier report by the Financial Times that claimed he would participate in Justin Sun's new public project.
As reported by Cointelegraph, Tron plans to go public in the U.S. through a reverse merger with SRM Entertainment, a Nasdaq-listed memorabilia and merchandise company. As part of the deal, SRM will be renamed Tron Inc. and will establish a large Tron (TRX) fund through a $100 million private equity investment.
According to CoinMarketCap, Tron is the ninth-largest blockchain project in the world, with a market capitalization of $26.5 billion.
Eric Trump's business ties with Justin Sun can be traced back to at least last November when the Tron founder became the largest investor in World Liberty Financial by purchasing $30 million worth of WLFI tokens.
Eric Trump has been a key source of inspiration for his family's crypto platform, World Liberty Financial, which emerged just before the U.S. presidential election.
World Liberty Financial has proven to be a significant economic benefit for the Trump family, with recent regulatory filings showing that the president earned $57.4 million from the project by selling his WLFI tokens.
Earlier this year, the Trump family further expanded its crypto ambitions by launching American Bitcoin, a digital asset mining company that plans to go public through a merger with Dryphon Digital Mining.
Since its launch in April, the company has accumulated 215 bitcoins (BTC), currently valued at approximately $23.3 million.
The expanding BTC inventory of American Bitcoin is not surprising, as Eric Trump has described Bitcoin as a global arms race.
“Right now, everyone in the world is trying to hoard Bitcoin. Everyone. I hear this from sovereign wealth funds. I hear it from the wealthiest families. I hear it from the biggest companies,” Eric said during a panel discussion at the Consensus conference in Toronto, Canada, in May.
Eric Trump has faced increasing criticism from Congress for his family's business ventures in the crypto industry.
Related: Trump’s Truth Social files S-1 application to launch Bitcoin (BTC) and Ethereum (ETH) dual ETF
Original article: “Eric Trump Claims to Be Justin Sun's 'Biggest Fan' but Denies Involvement in Tron’s Public Project”
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